Edgar Lomax Co. VA Reduces Holdings in Amgen Inc. $AMGN

Key Points

• Edgar Lomax Co. VA has reduced its stake in Amgen Inc. by 6.6% during the first quarter, selling 9,305 shares, which now constitute about 2.6% of the firm's total holdings.
• Amgen recently announced a quarterly dividend of $2.38 per share, with the company having a dividend yield of 3.2% and a payout ratio of 77.84%.
• The stock of Amgen has experienced a 2.1% increase in value, with its current trading price at $296.47, following a recent performance that includes a quarterly earnings beat.

Edgar Lomax Co. VA decreased its position in shares of Amgen Inc. (NASDAQ:AMGN - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,385 shares of the medical research company's stock after selling 9,305 shares during the quarter. Amgen comprises 2.6% of Edgar Lomax Co. VA's holdings, making the stock its 15th largest holding. Edgar Lomax Co. VA's holdings in Amgen were worth $41,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMGN. GAMMA Investing LLC increased its holdings in shares of Amgen by 43,573.5% during the first quarter. GAMMA Investing LLC now owns 3,661,589 shares of the medical research company's stock valued at $1,140,768,000 after acquiring an additional 3,653,205 shares in the last quarter. Nuveen LLC purchased a new position in shares of Amgen during the first quarter valued at approximately $688,868,000. Northern Trust Corp boosted its position in shares of Amgen by 15.8% during the fourth quarter. Northern Trust Corp now owns 6,431,029 shares of the medical research company's stock valued at $1,676,183,000 after buying an additional 875,254 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Amgen by 96.9% during the fourth quarter. Two Sigma Advisers LP now owns 1,545,600 shares of the medical research company's stock valued at $402,845,000 after buying an additional 760,700 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Amgen during the fourth quarter valued at approximately $193,339,000. Institutional investors own 76.50% of the company's stock.

Insiders Place Their Bets

In other Amgen news, SVP Nancy A. Grygiel sold 1,267 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $296.99, for a total value of $376,286.33. Following the completion of the transaction, the senior vice president owned 7,209 shares in the company, valued at $2,141,000.91. This represents a 14.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rachna Khosla sold 1,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $289.68, for a total value of $434,520.00. Following the completion of the transaction, the senior vice president owned 8,162 shares of the company's stock, valued at $2,364,368.16. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Amgen Stock Performance

NASDAQ:AMGN traded down $2.04 during trading on Friday, reaching $293.72. The company's stock had a trading volume of 1,643,970 shares, compared to its average volume of 2,104,120. The firm has a market cap of $158.13 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.49. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The firm has a 50 day moving average of $293.43 and a 200-day moving average of $293.27. Amgen Inc. has a 12 month low of $253.30 and a 12 month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The medical research company reported $6.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.28 by $0.74. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $8.86 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.97 EPS. Amgen has set its FY 2025 guidance at 20.200-21.300 EPS. Research analysts expect that Amgen Inc. will post 20.62 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, August 22nd. Amgen's dividend payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

AMGN has been the topic of several analyst reports. Bank of America lifted their target price on Amgen from $252.00 to $261.00 and gave the company an "underperform" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Amgen from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. UBS Group cut their target price on Amgen from $326.00 to $317.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $305.00 target price on shares of Amgen in a research report on Tuesday, June 24th. Finally, Guggenheim initiated coverage on Amgen in a research report on Tuesday, May 20th. They set a "neutral" rating and a $288.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.76.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.